IMMO GRAD: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
IMMO GRAD
Largest movements
- Tangible fixed assets +€216,032
up €216,032 (+32.8%), from €657,833 to €873,865
of which Land and buildings: +€169,129
- Receivables after one year +€91,367
new in 2025: €91,367
- Cash +€75,616
up €75,616 (+601%), from €12,571 to €88,188
mainly Contributions, distributions and other (+€462,207) and Depreciation (+€74,794)
- Intangible fixed assets -€31,901
down €31,901 (-13.3%), from €239,260 to €207,359
- Deferred charges and accrued income +€30,413
new in 2025: €30,413
- Reserves +€333,732
up €333,732 (+5,135%), from €6,499 to €340,231
of which Distributable reserves: +€305,000
- Profit (loss) carried forward +€129,010
up €129,010, from -€616 to €128,395
- Other debts -€125,383
down €125,383 (-25.9%), from €484,816 to €359,433
- Debts after one year -€57,386
down €57,386 (-16.8%), from €342,059 to €284,673
- Accrued charges and deferred income +€43,336
up €43,336 (+1,178%), from €3,677 to €47,013
- Gross operating margin +€65,169
up €65,169 (+98.1%), from €66,422 to €131,591
- Financial income +€33,539
up €33,539 (+670,774%), from €5 to €33,544
of which Non-recurring financial income: +€30,239
- Staff costs +€20,917
new in 2025: €20,917
- Taxes +€19,457
new in 2025: €19,457
- Depreciation +€15,906
up €15,906 (+27.0%), from €58,888 to €74,794
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €921,522 | €1,328,932 | +€407,410 | +44.2% |
| Fixed assets | 21/28 | €897,118 | €1,081,249 | +€184,131 | +20.5% |
| Intangible fixed assets | 21 | €239,260 | €207,359 | -€31,901 | -13.3% |
| Tangible fixed assets | 22/27 | €657,833 | €873,865 | +€216,032 | +32.8% |
| Land and buildings | 22 | €657,833 | €826,962 | +€169,129 | +25.7% |
| Plant, machinery and equipment | 23 | - | €3,561 | +€3,561 | |
| Furniture and vehicles | 24 | - | €43,342 | +€43,342 | |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €24,404 | €247,683 | +€223,279 | +915% |
| Amounts receivable after more than one year | 29 | - | €91,367 | +€91,367 | |
| Other amounts receivable | 291 | - | €91,367 | +€91,367 | |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Stocks | 30/36 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €11,832 | €37,355 | +€25,523 | +216% |
| Trade receivables | 40 | €11,184 | €10,189 | -€996 | -8.9% |
| Other amounts receivable | 41 | €648 | €27,167 | +€26,519 | +4,092% |
| Current investments | 50/53 | - | €360 | +€360 | |
| Cash at bank and in hand | 54/58 | €12,571 | €88,188 | +€75,616 | +601% |
| Deferred charges and accrued income | 490/1 | - | €30,413 | +€30,413 | |
| Total equity and liabilities | 10/49 | €921,522 | €1,328,932 | +€407,410 | +44.2% |
| Equity | 10/15 | €12,083 | €495,278 | +€483,194 | +3,999% |
| Contributions | 10/11 | €6,200 | €26,652 | +€20,452 | +330% |
| Reserves | 13 | €6,499 | €340,231 | +€333,732 | +5,135% |
| Non-distributable reserves | 130/1 | €0 | €0 | = | |
| Reserves not available under the articles | 1311 | €0 | €0 | = | |
| Tax-exempt reserves | 132 | €6,499 | €35,231 | +€28,732 | +442% |
| Distributable reserves | 133 | - | €305,000 | +€305,000 | |
| Profit (loss) carried forward | 14 | -€616 | €128,395 | +€129,010 | |
| Amounts payable | 17/49 | €909,438 | €833,654 | -€75,784 | -8.3% |
| Amounts payable after more than one year | 17 | €342,059 | €284,673 | -€57,386 | -16.8% |
| Financial debts | 170/4 | €342,059 | €284,673 | -€57,386 | -16.8% |
| Amounts payable within one year | 42/48 | €563,702 | €501,969 | -€61,734 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €59,103 | €69,133 | +€10,030 | +17.0% |
| Trade debts | 44 | €15,084 | €20,005 | +€4,922 | +32.6% |
| Suppliers | 440/4 | €15,084 | €20,005 | +€4,922 | +32.6% |
| Advances received on contracts in progress | 46 | - | €8,800 | +€8,800 | |
| Taxes, remuneration and social security | 45 | €4,700 | €44,597 | +€39,897 | +849% |
| Taxes | 450/3 | €4,700 | €30,733 | +€26,033 | +554% |
| Remuneration and social security | 454/9 | - | €13,864 | +€13,864 | |
| Other amounts payable | 47/48 | €484,816 | €359,433 | -€125,383 | -25.9% |
| Accrued charges and deferred income | 492/3 | €3,677 | €47,013 | +€43,336 | +1,178% |
| Remuneration, social security and pensions | 62 | - | €20,917 | +€20,917 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,888 | €74,794 | +€15,906 | +27.0% |
| Other operating charges | 640/8 | €6,796 | €11,202 | +€4,405 | +64.8% |
| Gross operating margin | 9900 | €66,422 | €131,591 | +€65,169 | +98.1% |
| Operating profit (loss) | 9901 | €737 | €24,678 | +€23,941 | +3,247% |
| Financial income | 75/76B | €5 | €33,544 | +€33,539 | +670,774% |
| Recurring financial income | 75 | €5 | €3,305 | +€3,300 | +65,993% |
| Non-recurring financial income | 76B | - | €30,239 | +€30,239 | |
| Financial charges | 65/66B | €31,289 | €17,778 | -€13,511 | -43.2% |
| Recurring financial charges | 65 | €31,289 | €17,778 | -€13,511 | -43.2% |
| Profit (loss) for the period before taxes | 9903 | -€30,547 | €40,444 | +€70,991 | |
| Income taxes | 67/77 | - | €19,457 | +€19,457 | |
| Profit (loss) for the period | 9904 | -€30,547 | €20,987 | +€51,534 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,547 | €20,987 | +€51,534 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.